HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2017-12RESOLUTION NO. FWHFC-2017-12
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION AUTHORIZING THE SALE OF NINE LOTS LOCATED IN THE
COMO NEIGHBORHOOD AND TWO LOTS IN THE HILLSIDE NEIGHBORHOOD
TO AVOCET VENTURES, L.P., FORT WORTH AREA HABITAT FOR HUMANITY,
INC., AND RIVERSIDE HOMEBUILDERS, LTD. FOR THE DEVELOPMENT OF
AFFORDABLE SINGLE FAMILY HOUSING
WHEREAS, the Fort Worth Housing Finance Corporation (the "Corporation") seeks to
promote homeownership and neighborhood revitalization throughout the City of Fort Worth
("City") and foster the development of quality, accessible, affordable housing for low and
moderate income individuals and families;
WHEREAS, between 1997and 2008 the Corporation acquired various residential lots for
future affordable housing development as part of its Infill Housing Development program (the
"Program"), and has constructed single family houses and developed subdivisions especially in
targeted areas of the City;
WHEREAS, the Corporation acquired the following eleven lots more particularly
described in the attached Exhibit "A" during the course of the Program: 5438 Goodman
Avenue, 5826 Farnsworth Avenue, 5908 Fletcher Avenue, 5425 Geddes Avenue, 5336 Goodman
Avenue, 5515 Goodman Avenue, 5407 Kilpatrick Avenue, 5716 Wellesley Avenue, 5720
Wellesley Avenue, 1346 Jefferson Avenue, and 953 E. Powell Avenue (collectively, the "Lots");
WHEREAS, Avocet Ventures, L.P. ("Avocet'), Fort Worth Area Habitat for Humanity,
Inc. ("Habitat'), and Riverside Homebuilders, Ltd. ("Riverside") have each expressed interest
in purchasing some of the Lots;
WHEREAS, the Board desires to approve the sale of the Lots among Avocet, Habitat,
and Riverside for between $7,500.00 and $10,500.00 for the development of affordable single
family housing.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT the Board approves the sale of five lots to Avocet, three lots to Riverside, and
three lots to Habitat for prices between $7,500.00 and $10,500.00 as more particularly
described on the attached Exhibit "A", plus the payment of common and customary
seller closing costs.
2. THAT the Board approves the execution and delivery of the following for the sale of the
Lots: (i) respective sale and purchase agreements with Avocet, Riverside, and Habitat,
(ii) the deeds, and (iii) the closing statements and any other related documents necessary
to complete the sales of the Lots (the "Closing Documents").
3. THAT Fernando Costa, General Manager of the Corporation, or Aubrey Thagard,
Assistant General Manager, or their duly appointed successors, are each authorized to
execute and deliver the Closing Documents for and on behalf of the Corporation along
with any related documents necessary to sell the Lots.
4. THAT to the extent any actions to sell the Lots authorized by this Resolution have
already been taken by the Corporation, Fernando Costa, or any other representative or
agent of the Corporation, the Board hereby ratifies and confirms such actions as the valid
actions of the Corporation, effective as of the date such action was taken.
5. THAT this Resolution takes effect on the date of its adoption.
AND IT IS SO RESOLVED.
ADOPTED December 5, 2017.
FORT WORTH HOUSING FINANCE CORPORATION
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BY:
Kell Alle y � Gray, President*
RESOLUTION NO. FWHFC-2017-12
EXHIBIT "A"
Property Descriptions and Sales Prices
Lots to be purchased by Avocet Ventures, L.P.
Address
Legal Description
Sales Price
5438 Goodman
Lots 23 and 24, Block 77, Chamberlain Arlington Heights
$10,500.00
Ave.
Second Filing
5336 Goodman
Lots 21 and 22, Block 76, Chamberlain Arlington Heights
$10,500.00
Ave.
Second Filing
5407 Kilpatrick
Lots 5 and 6, Block 77, Chamberlain Arlington Heights
$10,500.00
Ave.
Second Filing
5716 Wellesley
Lots 31 and 32, Block 49, Chamberlain Arlington Heights
$10,500.00
Ave.
Second Filing
5720 Wellesley
Lots 29 and 30, Block 49, Chamberlain Arlington Heights
$10,500.00
Ave.
Second Filing
Lots to be purchased by Riverside Homebuilders, Ltd.
Address
Legal Description
Sales Price
5826 Farnsworth
Lots 25 and 26, Block 414, Chamberlain Arlington Heights
$10,000.00
Ave.
Second Filing
5908 Fletcher Ave.
Lots 35 and 36, Block 277, Chamberlain Arlington Heights
$10,000.00
Second Filing
5425 Geddes Ave.
Lots 13 and 14, Block 38, Chamberlain Arlington Heights
$10,000.00
Second Filing
Lots to be purchased by Fort Worth Area Habitat for Humanity, Inc.
Address
Legal Description
Sales Price
5515 Goodman
Lots 7 and 8, Block 83, Chamberlain Arlington Heights
$10,500.00
Ave.
Second Filing
953 E. Powell
Lot 17, Block 30, Southland Subdivision
$7,500.00
Ave.
1346 E. Jefferson
Lot 13, Block 52, Highland Park Addition
$8,000.00
Ave.